OECD report UK 'well placed' for economic recovery

The OECD said on Tuesday 20 January that Britain is "well placed" to benefit from the current global economic recovery, but a tight grip must be kept on public finances to avoid a rising deficit.

The Organisation for Economic Cooperation and Development held to its November forecasts for economic growth in Britain hitting 2.75 percent this year and 3.0 percent in 2005 in a mostly positive assessment of the British economy.

But it warned that booming house prices could be a threat to the economy